2023 Year-End Tax Planning Guide

Download Your 2023 Tax Planning Guide

Continued economic uncertainty, political stagnation and the upcoming presidential election could have far-reaching effects on tax policy, making strategic tax planning even more critical. Numerous tax-saving opportunities face a looming deadline after 2024, requiring careful preparation now for potential changes in individual tax rates, the standard deduction, bonus depreciation deductions for business property, the qualified business income deduction and more.

Your CBIZ tax team has you covered. OurĀ 2023 Tax Planning Guide includes an overview of key sunsetting provisions with recommended action steps to take now and in 2024. We spotlight key year-end tax issues that should be addressed during 2023 in planning discussions with your advisor.

We also offer highlight valuable tax credits and incentives available for investments in your business and infrastructure, such as R&D tax credits, cost segregation, Employee Retention Tax Credits and Section 179D energy efficient building tax savings, enhanced by the Inflation Reduction Act (IRA).

Individuals can benefit from IRA tax incentives for energy-friendly purchases in their homes and vehicles as well as harvesting tax losses to offset capital gains and acting on the estate and gift tax exemption, which was doubled under tax reform.

Topics include:

  • Tax Considerations for Business Owners
  • Tax Considerations for Individuals and Closely Held Businesses
  • Time-sensitive Planning Opportunities
  • Sunsetting Tax Reform Provisions
  • Tax Charts and Limitations

Throughout the guide, you will find helpful links and tax insights that spotlight opportunities and action items for planning in 2023 and beyond.